BellRing Brands (NYSE:BRBR) Posts Quarterly Earnings Results, Beats Expectations By $0.11 EPS

BellRing Brands (NYSE:BRBR) released its quarterly earnings results on Monday. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.11, Briefing.com reports. The company had revenue of $494.60 million during the quarter, compared to the consensus estimate of $467.22 million. BellRing Brands had a negative return on equity of 56.67% and a net margin of 9.52%. The firm’s revenue was up 28.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.24 EPS. BellRing Brands updated its FY 2024 guidance to EPS.

BellRing Brands Trading Up 2.2 %

Shares of BRBR opened at $58.44 on Wednesday. BellRing Brands has a 1 year low of $34.58 and a 1 year high of $62.76. The stock has a 50 day simple moving average of $57.88 and a 200-day simple moving average of $54.40. The stock has a market cap of $7.65 billion, a PE ratio of 47.13, a PEG ratio of 2.18 and a beta of 0.85.

Analysts Set New Price Targets

Several analysts have recently issued reports on BRBR shares. Barclays upped their price target on BellRing Brands from $56.00 to $62.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Citigroup initiated coverage on BellRing Brands in a research report on Thursday, February 1st. They set a “buy” rating and a $67.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and set a $62.00 price objective on shares of BellRing Brands in a research report on Tuesday. Morgan Stanley boosted their price objective on BellRing Brands from $61.00 to $65.00 and gave the stock an “overweight” rating in a research report on Thursday, March 7th. Finally, Stifel Nicolaus boosted their price objective on BellRing Brands from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, BellRing Brands has a consensus rating of “Moderate Buy” and a consensus price target of $59.08.

About BellRing Brands

BellRing Brands, Inc, together with its subsidiaries, provides various nutrition products in the United States. The company offers ready-to-drink (RTD) protein shakes, other RTD beverages, powders, nutrition bars, and other products primarily under the Premier Protein and Dymatize brands. It distributes its products through club, food, drug, mass, eCommerce, specialty, and convenience channels.